...Foreign Direct Investment ANDREAS JOHNSON Host Country Effects of Foreign Direct Investment The Case of Developing and Transition Economies JIBS Dissertation Series No. 031 JIBS Dissertation Series No. 031 ANDREAS JOHNSON Host Country Effects of Foreign Direct Investment The Case of Developing and Transition Economies This thesis consists of four individual essays and an introductory chapter. While independent from each other, these essays share some common properties. They are all empirical and focus on the interaction between inflows of foreign direct investment (FDI) and host country characteristics. The primary focus of the thesis lies in how inflows of FDI affect developing and transition economies. Macro-level data are used in all essays. The first essay analyses the FDI inflows that the transition economies of Eastern Europe have attracted and tries to find determinants of these inflows. The following two essays compare the effect of FDI between developing and developed economies. The second essay studies the relationship between corruption in the host country and the volume of FDI inflows. The third essay explores the effect of FDI inflows on host country economic growth. The fourth and final essay analyses the relationship between FDI and trade, focusing on the link between FDI flows and host country exports in eight East Asian economies. ISSN 1403-0470 ISBN 91-89164-64-4 ANDREAS JOHNSON Host Country Effects of Foreign Direct Investment The Case...
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...Spring 2010 School of Engineering Maintenance impact on Production Profitability - A Case Study Växjö, 2010 Thesis no:TEK 028/2010 Obamwonyi Martyn Enofe Gregory Aimienrovbiye Department of Terotechnology (Total Quality Maintenance) Linnaeus University School of Engineering Department of Terotechnology (Total Quality Maintenance) 4SE31E Degree Project Master Thesis Författare/ Authors Obamwonyi Martyn Enofe Gregory Aimienrovbiye Linnaeus University Institutionen / Institution School of Engineering Department of Terotechnology (Systemekonomi) Dokumenttyp/Type of document Examensarbete (Degree Project) Handledare/Tutors Matias Taye Examinator/ Examiner Basim Al-Najjar Title och undertitel/ Title and subtitle Maintenance impact on Production Profitability - A Case Study Sammanfattning/Abstract Maintenance has had a tremendous impact on company’s proficiency to optimize its production system in order to meet its long term objectives. Generally, a production system in which maintenance is not given attention may easily lead to the system producing defective product as a result of machine defect. The purpose of this thesis is to utilized tools and methods to analyze the impact of maintenance implementation in a production system. The analytical Hierarchy process was utilized to filter the defining factors and sub-factors considered to be related to the life length and performance of production equipment in the research which was carried out at SCA...
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... Economics and Law at Göteborg University Airi.Rovio‐Johansson@gri.gu.se Stefan Tengblad@gri.gu.se th Nordic Academy of Management Conference, Paper presented at the 19 August 9‐11, Bergen, Norway. Abstract The aim of the study is to investigate graduates’ strategies and attitudes towards employability and career development, and to construct a tentative model of employability by identifying inherent factors. Four theoretical perspectives have been used to discuss the concept employability and the empirical results, i.e., the Human capital theory perspective, Institutional theory perspective, Critical theory perspective, and Actor theory perspective. The research project takes its point of departure in changes of the European and the Swedish labour market during recent years and the ongoing restructuring of Higher Education in Europe. A fundamental principle underlying these movements is the formulation of “Employability” as a thesis that aims at making the European Union the most dynamic and productive Higher Education Area and labour market. A higher degree of “employability” is attainable if the relation between the employee and the employer depend more on market based contracts limited in time, and where the employees are willing to take a higher degree of responsibility for their careers. As a corollary of that principle is the belief that the individual has a personal responsibility to sustain his or her capability and competence in order to be employable. Preliminary...
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...Stockholm School of Economics Department of Management and Organization Master Thesis, 20 credits “Can strategic analysis through a market and resource based view prevent the founding of companies with an unsustainable business strategy?” Abstract The Resource-based and Market-based views (RBV and MBV) are two theoretical frameworks which try to find an optimal structure for business strategy by focusing on key strategic points to gain the maximum output or return. During the peak and later upheaval of what is often called the “dot.com bubble” – business models, valuations and strategies were questioned with regards to their anchorage to reality and building endurable businesses. Based on a wide investigation of literature and reports within the Resource-based and Market-based view combined with first-hand interviews and second hand research, we have tried to find to what extent these strategies could or would have prevented investments in IT-ventures lacking the prerequisites for long term competitive advantage. The initial indications and rationale was that the information and frameworks would provide a structured strategic analysis that, if correctly used, could have prevented the poor investments and even lessened the impact of the crash. However, our conclusions are that a strategic analysis, using the MBV and RBV frameworks, would not have been able to give a correct strategic recommendation since the analysis would have been largely based on incorrect...
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...Lund University Centre for East and South-East Asian Studies Master’s Program in Asian Studies Master’ East and South-East Asia Track Spring semester, 2011 The Development of the Uppsala Model A Study of Samsung Electronics Author: Li Zhou Supervisor: Magnus Andersson Abstract: Based on an explorative case study approach, this thesis investigated whether the Uppsala model functioned in Samsung Electronics Corp. (SEC) case. The purpose of this study was to upgrade the Uppsala model by using a representative case of SEC. This thesis found that there are two dimensions derived from the Uppsala model. The first dimension is the sequential nature of the internationalization process in terms of psychic distance (from the market with close psychic distance to the market with remote psychic distance). The second dimension is a “market commitment” dimension, which means the form of market operation established from low-level commitment to high-level commitment. Two hypotheses derived from the two dimensions of the Uppsala model will be applied in SEC case. The first hypothesis is that the shorter the psychic distance between SEC’s home environment and target markets, the earlier will SEC establish foreign activities in those markets and vice versa. This hypothesis will be tested on a the macro-level with regards to the geographical distribution of Korean1 outward FDI and will be tested again during the internationalization process of SEC in two target markets-China and the US, to...
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...ABSTRACT BACKGROUND: During the last two years, most of the Private Equity (PE) companies of Bangladesh have increased their investments significantly. Easy access to capital, as well as inexpensive leverage, has led to an increase in activity of PE buy-outs of market leaders with strong cash flow. The competition for objects that are for sale has amplified, which has resulted in price increases of the objects. The higher prices offered by the PE companies also affects the number of initial public offerings (IPO) on the Dhaka and Chittagong Stock Exchanges. One reason for the small number of current IPOs is that the objects simply have been valued higher by PE companies than they would do in an IPO. PURPOSE: The purpose with this thesis is, from a shareholder’s point of view, to analyze and describe the reasons of making an IPO instead of selling to a PE company. METHODOLOGY: Since the research is based on gathering and understanding information regarding specific persons’ choices and motives, a qualitative approach has been conducted. CONCLUSION: All the main motives of the IPO could have been achieved by selling to PE Company, except the motive of attaining share liquidity. One of the attractive reasons for share liquidity is that shareholders easily can choose between reducing ownership, increasing ownership or remain with existing shares. Another attractive reason is that financial institutions normally become shareholders, which in turn increases the credibility...
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...OGUNDELE Supervisor: Anders Hederstierna Thesis for the Master’s degree in Business Administration Fall/Spring 2008 THE IMPORTANCE OF THE PAYBACK METHOD IN CAPITAL BUDGETING DECISION. By Alaba Femi, AWOMEWE & Oludele Olawale, OGUNDELE A thesis submitted in partial fulfillment of the requirements for the degree of MBA (Master of Business Administration) Blekinge Institute of Technology 2008 Supervisor Anders Hederstierna ii Abstract Title: The importance of the Payback method in Capital budgeting decision. Authors: Alaba Femi, Awomewe and Oludele Olawale, Ogundele Supervisor: Anders Hederstierna Department: School of Management, Blekinge Institute of Technology Course: Master’s thesis in business administration, 15 credits (ECTS). Background and Problem Discussion: The capital budgeting decision has been a very typical issue in the sustenance of a company. Several companies have lost their identity or liquidated due to wrong capital budgeting decision they made at one particular time or the other. Based on these prevalent problems in industries and the effect of globalisation on industries, it is important to use effective method to analyse investment before decision is made. Capital budgeting is extremely important because the decision made involve the direction and opportunity for future growth of the organisation. One of the traditional methods commonly used for capital investment appraisal by some organizations is the payback...
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...examining their claims to test them for validity, truth, soundness, and reliability of generalization and so on. It involves deductive methods, reductio ad absurdum or the selective application of relevant counterexamples, analogical and inductive procedures. It requires the examination of ideas, reasons, arguments and experience, and evidence drawn from various sources. It even involves experimental reasoning in the form of thought experiments. The overall format is that of the hypothetical-deductive method of developing a thesis by proposing a hypothesis, deducing the consequences that logically follow from that hypothesis and then testing them against other well-established beliefs, experience, data, and the results of the analyses and interpretations of a thesis by other scholars (secondary sources). Below follows a brief outline of some key steps to follow in executing a genuine philosophical analysis of a thesis and it argument(s). First a flow chart: 1. Thesis statement – a brief statement of the problem, why you think it’s a problem, & how you plan to approach it (these elements should occur in the introduction to your paper). 2. Hypothesis formation – described below, 3. Development of hypothesis, 4. Testing of hypothesis, 5. Modification and reexamination of hypothesis (steps 2 – 5 make up the body of your paper). Repeat until you have whittled down the various sides to the point where...
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...Analysis and Management III: Derivatives and Financial Risk Management | (2) | | IMB 536 Global Macroeconomic Trends and Financial Institutions or CSB Elective | (1) | | IMB 534 International Real Estate Investment | (1) | | IMB 539 Financial Management | (2) | | IMB --- CSB Elective | (2) | | Or | | | | | | IMB 595 Special Topics in International Business (to be completed at an IBSA partner school) | | C. Thesis or Extensive Written Case Analysis (12 semester hours): Term 3 (summer) | | | IMB 599 Thesis | (6) | | IMB 594 Capstone Project / Practicum | (6) | IMBA Course Descriptions (UNCW) The course descriptions shown below are only for courses offered by UNCW and the Cameron School of Business. See each alliance school for their course offerings. IMB 531. Cases in International Finance (1-2) This course will focus on international financial management cases. Cases will build on topics of international monetary systems, international investment decisions, portfolio diversifications, multinational capital structure, and foreign exchange risk and management. IMB 532. Portfolio Analysis and Management I (2) This course is designed to focus on tool and techniques of modern portfolio theory in a global context. Students will convert theory to practice through active management of a real dollar portfolio. IMB 533. Portfolio analysis and Management II (2) This course is designed to focus on the fixed income asset class as a component of an actively...
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...University B eh avioral F i nance Investors’ Rationality Bachelor Thesis within Finance Authors: Bernéus, Hannes Sandberg, Carl Wahlbeck, David Tutor: Jönköping Österlund, Urban December, 2008 Acknowledgement We would like to thank our tutor Mr. Urban Österlund for his support and guidance. We are also grateful for all valuable comments and insights from our fellow students during seminar sessions. We would also like to present a special thanks to Johan Sandberg at Swedbank Robur and Viktor Östebo at Nordnet. Without Mr. Sandberg’s and Mr. Östebo’s contribution, this thesis would not have been possible to complete. To all the respondents: thank you for your participation! _____________ Hannes Bernéus ____________ Carl Sandberg Jönköping International Business School Date: 2008-12-11 i _____________ David Wahlbeck Bachelor Thesis within Business Administration Title: Authors: Tutor: Date: Subject terms: Behavioral Finance – Investors’ Rationality. Hannes Bernéus, Carl Sandberg, David Wahlbeck Urban Österlund 2008-12-02 Behavioral Finance, Behavioral Economics, Finance, Economic Psychology. Abstract Purpose: The purpose of this thesis is to examine if professional investors are indicating tendencies of irrational behavior when exposed to certain psychological dilemmas related to the financial world. Background: A new field within financial theory emerged in the 1980s; one which did not build on fundamental cornerstones...
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...Corporate Social Responsibility and Accounting - A Literature Review Master thesis in Financial Accounting Fall semester 2012 Supervisor: Kristina Jonäll Author: Ulla-Christel Götherström Abstract Master Thesis in Financial Accounting, School of Business, Economics and Law, University of Gothenburg, fall semester 2012 Author: Ulla-Christel Götherström Supervisor: Kristina Jonäll Title: Corporate Social Responsibility and Accounting - A literature review. Background and problem: Corporate Social Responsibility (CSR) is an area which has gained much attention the last 10-15 years. To satisfy various stakeholders, corporate social responsibility has increased its importance and often constitutes a substantial part of the firms´ financial reports, in spite of the fact that there are no legal requirements. However, to perform strategic CSR-reporting has become more or less compulsory for firms. The research question is: What research has been performed in the area of corporate social responsibility and accounting? Aim: The aim is to provide a structured overview of the literature in the area of corporate social responsibility and accounting regarding the years 2002-2012. The overview will provide a basis for future research and constitute a framework for focused research question. Delimitation: The focus of this study is on research published in scientific journals from 2002 until 2012. Method: A literature review was performed including peer-reviewed papers...
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...Declaration I hereby certify that I have properly checked and verified all the items as prescribed in the checklist and ensure that my thesis/report is in proper format as specified in the guideline for thesis preparation. I also declare that the work containing in this report is my own work. I, understand that plagiarism is defined as anyone or combination of the following: 1. To steal and pass of (the ideas or words of another) as one's own 2. To use (another's production) without crediting the source 3. To commit literary theft 4. To present as new and original an idea or product derived from an existing source I understand that plagiarism involves an intentional act by the plagiarist of using some-one else's work/ideas completely/partially and claiming authorship/originality of the work/ideas. Verbatim copy as well as close resemblance to some else's work constitute plagiarism. I have given due credit to the original authors/sources for all the words, ideas, diagrams, graphics, computer programs, experiments, results, websites, that are not my original contribution. I have used quotation marks to identify verbatim sentences and given credit to the original authors/sources. I affirm that no portion of my work is plagiarized, and the experiments and results reported in the report/dissertation/thesis are not manipulated. In the event of a com-plaint of plagiarism and the manipulation of the experiments and results, I shall be fully...
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...Institutions matter for attracting foreign direct investment? Academic literature review 1.1 The position of FDI in international capital flows Vast research is focused on financial liberalization and capital inflows as a consequence of it. The main findings were that capital inflows volatility is more severe in developing countries than in developed ones, and that this cannot be explained by the level of changes in fundamentals (Broner et al. (2005)). Because of the existing global economy, small negative shocks in one country will lead to asset pricing deterioration worldwide and the total effect would be relatively large; international capital flows are the most significant reason of these changes (Mendoza et al. (2010)). Most of the studies doubt that foreign capital flows are a reliable platform for the development of emerging economies. However, Foreign Direct Investment (FDI) is claimed to be of a different nature. According to the definition given by the World Bank, it consists of an acquisition of ten percent or more of voting stock (it might be equity capital, significant intercompany borrowing and lending, or earnings reinvestment). Lipsey (2001), in his historical study of 3 financial crises –(Eastern Asian, Mexican and Latin American), proved that FDI is more resilient to downturns in economic conditions than other forms of foreign capital. Moreover, Makki et al. (2004) found a significant positive effect on internal investment and economic growth from FDI. That is consistent...
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...ADMN 995, section 2: PORTFOLIO COURSE FOR MBAs Course Information & Syllabus for Online MBA Course Purpose The Portfolio Course has two main purposes: (1) Program evaluation for continuous improvement and (2) Professional development for you as you near graduation from the online MBA program. Most students report that the entire process takes only 2-4 hours. This zero-unit course contains your insights, which allow the online MBA faculty to evaluate the effectiveness of its program. It also requires you to reflect on and write about the way in which your selection of courses achieves the goals of the online MBA program. As the online MBA program collects and assesses student portfolios produced over a period of years, the faculty will be able to adjust the mix of electives and requirements that make up each major to more fully meet program goals. Other matters, such as grading standards or individual course requirements may also come up for discussion during the review of student portfolios. Thus, your particular portfolio will help shape the future of the online MBA program as well as help you review your own education. This course will also develop your career and professional aspirations via a career workshop and advisement session to prepare you for the next step in your professional life, which varies from student to student. ADMIN 995 Course Overview There are four components to the course which you must complete: 1. Portfolio of Academic Work 2. Reflective...
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...Imperialism is the monopoly stage of capitalism | Lenin’s assertion | | Kimani, Tabitha Wangari –X74/3507/2011 | XEA 102:INTRODUCTION TO POLITICAL ECONOMYLecturer Fred NjonyoBachelor of EconomicsUniversity of Nairobi | 27-May-12 | Thesis describes the function of financial capital in generating profits from imperial colonialism, as the final stage of capitalist development to ensure greater profits. | INTRODUCTION In order for capitalism to generate greater profits than the home market can yield, the merging of banks and industrial cartels produces finance capitalism, the exportation and investment of capital to countries with under-developed economies. Then, such financial behaviour leads to the division of the world among monopolist business companies and the great powers. Moreover, in the course of colonizing undeveloped countries, Business and Government eventually will engage in geopolitical conflict over the economic exploitation of large portions of the geographic world and its populaces. Therefore, imperialism is the highest stage of capitalism, requiring monopolies (of labour and natural-resource exploitation) and the exportation of finance capital to sustain colonialism, which is an integral function of said economic model. Furthermore, in the capitalist homeland, the super-profits yielded by the colonial exploitation of a people and their economy, permit businessmen to bribe native politicians: labour leaders and the labour aristocracy : to politically...
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